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Candlestickpattern

Bull and Bear Marubozus Candlestick PatternMarubozus are an interesting candle pattern wherein the close and open of the candle are also the high / low points of the candle. In other words, a candle with no shadows or wicks. How reliable are they, though? Probably not very reliable on their own. It may also depend on the size of the candle. You would probably want to incorporate this candle pattern with other filters, like RSI, MACD, to filter trade opportunities.
Pine Script™ indicator
by UnknownUnicorn20967364
3
Candlestick RecognitionCandlestick Recognition Version 1.0 Fun script to recognize and name candlesticks. Hamers and Highwaves and Marubozus oh my! All candlestick names can be turned on or off in the settings since sometimes they stack close to each other and are hard to read. If you think I mislabeled any please provide me with an example of what you think it should be and I will review it to see if any changes need to be made. Please keep in mind that each stock will be a little different as the Candlestick Recognition uses ATR (Average True Range) for the calculations.
Pine Script™ indicator
by Dustin_D_RLT
2
Abnormal Pin BarPin Bar is one of the most important candlestick patterns. Almost every time you see a pin bar, you can expect the price to turn in the opposite direction. You should pay more attention to the abnormal ones among the pin bars. What I mean by abnormal pin bar is that the long leg is at least 3 times larger than the body. With this indicator, you can set your own abnormal pin bar settings. The indicator will highlight abnormal pin bars according to the settings you specified. The indicator uses the following three factors to indicate abnormal pin bar: - Minimum body ratio in the pattern in percent - Minimum ratio of the long shadow to the body - Minimum ratio of the long shadow to the short shadow Also, there is a volume strength check to confirm the pin bar. If the volume where the pin bar is formed is greater than the 20 volume average, it indicates that the pin bar is more important. Of course, confirming the pin bar with the volume is optional and you can disable it in settings if you wish. You can use the highlights of this indicator as an entry signal if the pin bar appears at the trend key levels or in support or resistance zones.
Pine Script™ indicator
by bhnmzm
13
Candles Based On Traded VolumeCBTV - Candlesticks Based on Traded Volume This is the first robust implementation of volume based candlesticks (bars) on TradingView. This type of bar was describe in the book "Advances in Financial Machine Learning," written by Lopez de Prado, a well-known quant who has managed billions of dollars over the course of his career. Volume Candlesticks (Bars) are bars that are indexed by total volume, with each set of N shares exchanged forming a separate bar. This means that on CBTV chart a candle forms not after a specific time interval defined by the time frame of the chart, but when a determined volume was traded. This approach to price sampling is much better than the time based one, because it does not oversample periods where nothing happens. Traditional candlestick charts show a lot of low volume bars without meaningful price changes in them. The efficient price sampling results in better results when using volume based bars in machine learning forecasting models. They are also useful for technical analysis. Candlestick patterns on CBTV chart are more pronounced and have more predictive power. Volume based bars can be constructed only for instruments where volume data is available. These are stocks, futures and crypto currencies. When you run CBTV it appears in a separate window below the traditional time based chart. CBTV will be used in pair with a helper indicator which is called Optimal Volume per Candle (OVPC). When applied to a chart OVPC shows the optimal range for volume per candle to construct volume based candlesticks from this timeframe data. It appears in the blue box above the most recent candle of a standard time based chart. When you set a Volume Per Candle parameter in CBTV make sure it is within the range that shows OVPC. In this case volume based chart will be easy to read and all the calculations will be performed with the high level of precision. The most recent unfinished candle is marked with the different set of colors than historical candles. Unfinished candle is colored in orange if it is a falling candle, blue it it is a rising one. If you leave the CBTV chart opened for a long time you can have multiple blue or orange candles on it. In this case press the “hide” icon with the eye sign twice (it’s on the left side of the indicator panel next to its input parameters). This will refresh the CBTV and remove the artifacts. While everything comes Real-time you will see the orange or blue bars form but never update. All you need to do is REFRESH THE CHART. Hoping soon to update this with a version you wont have to refresh the chart. Please drop a like and comment what you guys think and once again thank you Tradingview for such a great platform :)
Pine Script™ indicator
by AngelAlgo
10
3B-Play Finder1 - Objective 2 - How to use (Theory) 3 - How to use (Grade System) 4 - Inputs 5 - Extras and Alerts 6 - Notes Objective This script aims to mark 3 Bar play patterns (both short and long) by identifying them on the chart, with an arrow pointing up from long and down for short. Aswell, setting alerts based on grade. Following the base concept, this script comes with a "grade" system (A, B, C), which aims to classify 3B-Play according to input parameters. 2 - How to use (Theory) The pattern is described by a wide range Ignite bar followed by a narrow resting bar. Long Given a 3 Bar play pattern, with a wide range green bar, the entry point should be above the ignite and narrow bar wicks (high) with stop loss set below the resting bar wick low but within ignite wide range bar. The exit depends on the chart analysis, and there is no set rule for it. Short Similar to long but is with a wide range red bar and entry is defined on wick low and stop-loss at wick high. 3 - How to use (Grade System) Since 3B-play come in all sort of shapes, some are "textbook" perfect, others a bit more "loose". I set a grading system, to differentiate each one. The way the 3 Bar play quality is determined is based on the percentage size of the resting bar in relation to igniting bar size, starting from de close. An example of how this works is the following. Note: enabling the extra draws lines helps visually to adjust the grades to your preference. 4 - Inputs 3B Quality section Enable/disable each grade. CONTROL LONG / SHORT Set the percentage values for each grade. Extras Enable/Disable extra plots. 5 - Extras and Alerts This script comes with an extra section, enabling it, draws lines on the max and min values, as well, showing the values in text and the set percentage. Also, you can set alerts based on the grade and short/long, note you should set the alert to bar close to avoid pre-trigger warnings. 6 - Notes The script can be shorted a lot, by only looking for a single 3 bar play, to less than 30 lines.
Pine Script™ indicator
by MA_PT
6
Hammers & Stars StrategyOverview This script trades basic hammer and shooting star candlestick patterns. It's an extremely simple strategy with minimal filters, and according to my personal manual backtesting and automated trading results, performs best on the Daily chart on certain forex pairs. It is intended to be traded on the forex markets but theoretically should work on all markets (especially if you optimize the settings). The script also comes with complete AutoView automation for Oanda. Make sure you've connected AutoView to TradingView and Oanda, then simply set an alert using the "alert() function calls only" condition and it will automatically execute trades based on whatever settings you've selected (only recommended for experienced traders - use at your own risk!) If you're not sure how to set up AutoView, search "The Art of Trading AutoView Guide" on YouTube to find my detailed video guide. Check out my website and YouTube channel for more information, scripts, resources and free Pine Script & trading lessons (link in my profile). Best of luck with your trading! - Matt / The Art of Trading Settings Menu Tooltips are included explaining what the various settings do, but here's a quick summary: Strategy Settings >= ATR Filter: Minimum size of entry candle compared to ATR <= ATR Filter: Maximum size of entry candle compared to ATR Stop Loss ATR: Stop loss multiplier (x ATR) R:R: Risk:Reward profile Fib Level: Used to calculate upper/lower third of candle. (For example, setting it to 0.5 will mean hammers must close >= 50% mark of the total candle size) Start Date Filter: Date & time to begin trading from End Date Filter: Date & time to stop trading AutoView Oanda Settings Use Oanda Demo: If turned on then oandapractice broker prefix will be used for AutoView alerts (demo account). If turned off then live account will be used Use Limit Order: If turned on then AutoView will use limit orders. If turned off then market orders will be used (recommended to use limit order to mitigate spread issues) Days To Leave Limit Order: This is your GTD setting (good til day) Account Balance: Your account balance (used for calculating position size) Account Currency: Your account balance currency (used for calculating position size) Risk Per Trade %: Your risk per trade as a % of your account balance
Pine Script™ strategy
by ZenAndTheArtOfTrading
26
CSPDMost Advanced & Accurate CandleStick Pattern Detector Looking All Over of All Markets for All Important Powerful Reversal | Corrective Patterns (25 type) Filtering the Results with Optional Features like Oscillator, Bollinger Bands, Volume Confirmation, Prior and Following Candles Confirmation which are Fully Customizable. With this you can detect: Hammer | Shooting star Inverted Hammer | Hanging Long legged Doji | Dragonfly Doji | Gravestone Doji Bullish tweezers | Bearish tweezers Bullish inside bar | Bearish inside bar Bullish three line strike | Bearish three line strike Bullish engulfing | Bearish engulfing Piercing line | Dark cloud cover Bullish abandoned baby | Bearish abandoned baby Morning star | Evening star Three white soldiers | Three black crows *Bullish kayo | *Bearish kayo Features: Prior and Following candles Confirmation    You can set prior and following candle as basic prerequisites for marking candles as pattern to make sure you are at the top or bottom of the trend. Volume confirmation    You can active volume increasing confirmation for some of pattern with adjustable increase % relative to prior candle | candles. Oscillator Confirmation    Active oscillator confirmation. Select your approved oscillator from list (Stochastic, RSI, StochRSI, MFI, StochMFI) then enter desired value for marking candles as bullish | bearish pattern. Bollinger Bands Confirmation    Active BB confirmation. Configure your Bollinger Bands. Now only see the patterns which reached or crossed from Bands. Also you can enable BB clod to have your BB indicator at the same time. Adjustable Flexibility and Precision    You can set tolerance% for Osc and BB Confirmation - each one separately - for more control. Self-adaptability    The properties of markets change over time, for example the amplitude of fluctuations and the intensity of movements. The script is designed in such a way that you can examine the price history as a benchmark for changes in market properties to adopt determinants. Also you can control those manually. Self-regulatory    The user has the ability to change input factors depending on their point of view. Behind the pattern recognition algorithms, there are relationships and similarities in their appearance that cause them to be influenced by each other. Simultaneously with changing the determining factors of each pattern by you, script automatically adjusts other details in accordance with your changes. Alerts    You can set for type of pattern or each one of pattern have been detected. Fully Costumizable    All of these options can be change and adjust. Note 1.    The patterns are based on extensive study of reference and famous sources and the experience of me and my friends in trading and analysis with price action methods. Note 2.    Due to the Pine limitations in the number of outputs | plots for each script, our attempt has been made to select the best and most important patterns. Note 3.    So far, many scripts have been written in this field, but our experience with all of them and even the build in version was not satisfactory, and this was the initial motivation for making the script. We strive to improve progress and elimination of shortcomings and we will continue to make this better. Note 4.    Through personal experience and based on the principles of market and candlestick psychology, we discovered a new type of pattern and named it as Kayo. kayo is a two candle pattern which formed when:     1.We have a pivot point with prior candles as left bars and following candles as right bar. Pivot candle called as second candle.     2.In a bullish kayo, first candle must closed descending and second candle must closed as ascending. For bearish kayo vise versa.     3.In a bullish kayo, second candle's lower wick must be longer then upper wick.     4. A pattern marked as kayo when its conditions do not correspond to any of the other patterns(include the confirmation that user added), ie it has the last naming priority over the other patterns. Note 5.    When you active confirmation options for patterns like hammer, engulf and etc which they conditions are like kayo in some extent, if they can't pass the confirmation steps, they can be marked as kayo pattern. Note 6.    If you active volume confirmation for Three white soldiers | Three black crows, the confirmation get passed if the volume of forth or third candle increased as value as entered relative to volume EMA3 of 3 candles. Note 7.    In a bullish pattern all highs of following candles MUST be higher than prior highs and all lows of following candles MUST be higher than prior lows. For bearish patterns vise versa. This type of confirmation depends on High and Low NOT close! Gift to price action lovers! Support us with your like and comments. let us know your experience, points and idea to make this better together.
Pine Script™ indicator
by Algorca
38
[blackcat] L3 Price Positioning IndexLevel: 3 Background Are you tired of traditional Japanese candlesticks? Do you want to try a new type of candle master chart? Function L3 Price Positioning Index is totally brand-new candle chart invented by myself. This main chart can provide effective resistance and support levels, and you can see where the price is running at any time. There are 3 key circle lines. Green circle line is used to indicate oversold support or breakthrough support levels; yellow circle line indicates the midline position where prices may pause; and red circle line indicates overbought resistance or breakthrough resistance levels. There are two types of candlestick charts. The first type candles are mid-to-long-term trend candles, navy represents an uptrend and the length of the candle represents a change in intensity; maroon represents a downward trend and the length of the candle represents a change in intensity. This trend candle is the effective support and resistance level of the second type short-term swing candle. The second type candles are short-term candles fluctuate around the first medium- and long-term trend candles. The second short-term candle is divided into five colors: green means pump; fuchsia means retracement in the ascending process; yellow means bullish reversal signal; red means dump; blue means price rebound in the descending process. Key Signal THREE KEY LINES: htop --> red circle line, overbought resistance or pump breakout threshold hmid --> yellow circle line, price pause zone, sideways may happen here hbot --> green circle line, oversold support or dump breakout threshold MID-LONG TERM CANDLES: x22,x33 --> navy for up and maroon for down trend, they are important support or resistance for short term price movements SHORT TERM CANDLES: 1. bearreboun --> rebounce in down trend candle with blue color 2. pump --> up trend pump candle with green color 3. bullreversal --> bullish reversal candle with yellow color 4. dump --> bearish dump candle with red color 5. bullretra --> retracement in up trend candle with fuchsia Pros and Cons Pros: 1. Long term trend identification by three lines for overbought, oversold and breakouts 2. Mid term trend support and resistance with navy and maroon candles 3. Short term price behaviors are classified into 5 types of candles in blue, green, yellow, red and fuchsia Cons: I invent this to solve traditional JP candlestick shortcomings. If you find anything on Cons, just feedback to me for improvements. Remarks Brand-new Candle System invented by myself Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Pine Script™ indicator
by blackcat1402
14
Moving Average of Upper and Lower Wicks with optional smoothingIn the book, The New Technical Trader by Tushar Chande and Stanley Kroll there is a part that talks about candlestick analysis and how the wicks play a role on how the price will behave. When wick lengths increase then there could be uncertainty. Weakening of support and resistance levels can also be seen by the size of the candlestick wicks or shadows. Shoutouts to Mango2Juice from Tradingview and the The Academy of Forex for helping me out in making this and providing the moving averages function. When combined with other indicators or strategies, I find that this increases their accuracy when used correctly. For those that believe in price action, this might be worth a try. The book has only a brief section on candlestick wicks but it is one of the most interesting ideas I found. The book likes to include a simple moving average in its indicators with a certain length to provide a smoothing type of effect or a sort of extra indicator for the other to be above to give off quicker signals at the cost of accuracy. For this indicator it acts as a smoothing type effect which I put in because it is hard to see the slope and direction of where the moving averages of the wicks are going. The type of moving averages to use and the correct lengths are questionable and are not explained well in the book. If anyone can figure out a good use for this or know better settings or tips, please let me know.
Pine Script™ indicator
by SparkyFlary
3
L2 Candle Pattern ScalperLevel: 2 Background Japanese candlesticks provide more detailed and accurate information about price movements compared to bar charts. They provide a graphical representation of the supply and demand behind the price promotions for each period. Each candlestick contains a central part that indicates the distance between the opening and closing of the security being traded, the area called the body. Scalping is a trading strategy that aims to take advantage of minor changes in the stock price. Traders using this strategy place anywhere from 10 to a few hundred trades in a single day with the belief that small moves in the stock price are easier to catch than large ones. Traders who implement this strategy are known as scalpers. Lots of small wins can easily lead to big wins if a strict exit strategy is used to prevent big losses. Function L2 Candle Pattern Scalper utilizes candle pattern to decide long and short entry signal. It use inherent candles' relationship nearby to judge the market trend is up or down and decide to long or short. Signal buysmall --> long entry exitred --> short entry Pros and Cons Pros: 1. its response is fast because OHLC candle is the raw source of market 2. it is suitable for scalping because it studies nearby candles to judge very short term trend change Cons: 1. Mid-long term change is missing from this indicator, although I use fast and slow lines to indicate the mid-term trend. 2. No stop loss or take profit scheme is introduced. Remarks This is promising but need efforts to refine it. Readme In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts. The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works. Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element. Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level. Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated. Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop. Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Pine Script™ indicator
by blackcat1402
40
Reversal closing priceThe reversal closing price (RCP) is a candlestick pattern which follows two simples rules: the low price of current candle needs to be lower than the low price of the last 2 candles the closing price of current candle needes to be higher than the closing price of the last candle This generates a signal for a long position. For a short position, the conditions are inverted: the high price of current candle needs to be higher than the high price of the last 2 candles the closing price of current candle needes to be lower than the closing price of the last candle Since RCP is a trend follower indicator, the strategy is programmed in such a way that long positions are only placed if the short period EMA is above the long period EMA, and short positions are only placed if the short EMA is bellow the long EMA. Both periods are configurable, and should be ajusted for each asset. This strategy uses a fixed stop loss and take profit, and the it's ratio is configurable. The stop price is one tick lower than the lowest price of X candles prior to the order execution for long positions, while in short positions it's one tick higher than the higher price. The amount of candles to lookback (X) is configurable. Both stop and take profit prices are displayed, the first as a red line, and the second as a green line. This is the setting that I've found to work best with TVC:SPX , but you may find a better setting. While the RCP is universal, it's placement depends on the trend and it's strenght, something that is very heterogeneous among assets. I really wish that I was able to place images, but I don't have PRO, so text will have to do. This strategy was designed by Alexandre Wolwacz, a.k.a. Stormer.
Pine Script™ strategy
by EduardoMattje
9